Micron Technology, Inc., Reports Results for the Fourth Quarter and Full Year of Fiscal 2018
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Year Ended | |
Year Ended | | |
August 30, 2018 | |
August 31, 2017 | | |
GAAP |
Adj |
Non-GAAP | |
GAAP |
Adj |
Non-GAAP | | Net sales | $ | 30,391 | | $ | — | | $ | 30,391 | | | $ | 20,322 | | $ | — | | $ | 20,322 | | | Cost of goods sold | 12,500 | | (103 | ) | 12,397 | | | 11,886 | | (203 | ) | 11,683 | | | Gross margin | 17,891 | | 103 | | 17,994 | | | 8,436 | | 203 | | 8,639 | | | percent of revenue | | 58.9% | | | | 59.2% | | | | 41.5% | | | | 42.5% | | | | | | | | | | | | | | | | Selling, general, and administrative | 813 | | (61 | ) | 752 | | | 743 | | (88 | ) | 655 | | | Research and development | 2,141 | | (57 | ) | 2,084 | | | 1,824 | | (55 | ) | 1,769 | | | Other operating (income) expense, net | (57 | ) | (28 | ) | (85 | ) | | 1 | | (18 | ) | (17 | ) | | Operating expenses | 2,897 | | (146 | ) | 2,751 | | | 2,568 | | (161 | ) | 2,407 | | | Operating income (loss) | 14,994 | | 249 | | 15,243 | | | 5,868 | | 364 | | 6,232 | | | percent of revenue | | 49.3% | | | | 50.2% | | | | 28.9% | | | | 30.7% | | | | | | | | | | | | | | | | Interest income (expense), net | (222 | ) | 101 | | (121 | ) | | (560 | ) | 125 | | (435 | ) | | Other non-operating income (expense), net | (465 | ) | 465 | | — | | | (112 | ) | 112 | | — | | | | 14,307 | | 815 | | 15,122 | | | 5,196 | | 601 | | 5,797 | | | | | | | | | | | | Income tax (provision) benefit | (168 | ) | (250 | ) | (418 | ) | | (114 | ) | (59 | ) | (173 | ) | | Equity in net income (loss) of equity method investees | (1 | ) | — | | (1 | ) | | 8 | | 17 | | 25 | | | Net income (loss) | 14,138 | | 565 | | 14,703 | | | 5,090 | | 559 | | 5,649 | | | | | | | | | | | | Net income (loss) attributable to noncontrolling interests | (3 | ) | — | | (3 | ) | | (1 | ) | — | | (1 | ) | | Net income (loss) attributable to Micron | $ | 14,135 | | $ | 565 | | $ | 14,700 | | | $ | 5,089 | | $ | 559 | | $ | 5,648 | | | | | | | | | | | | Shares used in calculations | 1,229 | | 1 | | 1,230 | | | 1,154 | | (14 | ) | 1,140 | | | Diluted earnings (loss) per share | $ | 11.51 | | $ | 0.44 | | $ | 11.95 | | | $ | 4.41 | | $ | 0.55 | | $ | 4.96 | | | | | | | | | | | | | | | | | | | | | | |
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